HB 3 was a sweeping school finance bill that passed in June 2019 during the last legislative session. In it, the state looked to reduce the financial burden of public education on the taxpayer by compressing the district’s tax rate-setting abilities. The legislation, however, was only set in place for the biennium and would require reapproval in this year’s 87th legislative session.
The decisions made during the 87th legislative session will impact school finance for the 2021-22 and 2022-23 school years, Tipton said.
By the March board workshop, Tipton said the district will have an estimated maximum compressed rate, as mandated by HB 3, and estimated revenue projections that will be used to build the 2021-22 budget.
Other impacts to the budget could include expenses from the coronavirus pandemic and Texas winter storm as well as student enrollment projections, officials have said.
The board must adopt a budget by June 30. The new budget cycle begins July 1.